Amazon.com (NASDAQ:AMZN) Trading 1.7% Higher - Time to Buy?

Key Points

• Amazon.com shares rose 1.7% to $215.34 with a trading volume decline of 58% from the average daily volume.
• Several analysts upgraded their ratings on Amazon, with Pivotal Research increasing the price target from $260 to $285 and a consensus rating of Buy.
• Amazon reported quarterly earnings of $1.68 EPS, surpassing estimates by $0.37 with revenues of $167.70 billion for the quarter.

Amazon.com, Inc. (NASDAQ:AMZN) shot up 1.7% during mid-day trading on Tuesday . The stock traded as high as $216.30 and last traded at $215.34. Approximately 18,722,301 shares were traded during mid-day trading, a decline of 58% from the average session volume of 44,868,602 shares. The stock had previously closed at $211.65.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AMZN shares. JPMorgan Chase & Co. boosted their price target on shares of Amazon.com from $255.00 to $265.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Royal Bank Of Canada boosted their price target on Amazon.com from $230.00 to $240.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Oppenheimer cut their price objective on shares of Amazon.com from $250.00 to $245.00 and set an "outperform" rating on the stock in a research note on Friday, August 1st. BMO Capital Markets raised their target price on shares of Amazon.com from $270.00 to $280.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, Sanford C. Bernstein set a $235.00 price objective on shares of Amazon.com and gave the company an "outperform" rating in a report on Tuesday, July 1st. One analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $262.45.

Amazon.com Stock Performance

The business's fifty day moving average is $218.57 and its 200-day moving average is $208.96. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.35 trillion, a PE ratio of 33.55, a P/E/G ratio of 1.45 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.37. The firm had revenue of $167.70 billion during the quarter, compared to the consensus estimate of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The company's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.26 EPS. As a group, research analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of Amazon.com stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the sale, the insider owned 897,722,088 shares in the company, valued at $201,816,902,603.28. This trade represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 25,102,037 shares of company stock valued at $5,674,937,048. 10.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AMZN. Modera Wealth Management LLC grew its stake in shares of Amazon.com by 2.9% in the 2nd quarter. Modera Wealth Management LLC now owns 247,744 shares of the e-commerce giant's stock worth $54,353,000 after buying an additional 6,911 shares in the last quarter. Twin Capital Management Inc. lifted its holdings in shares of Amazon.com by 1.3% in the 2nd quarter. Twin Capital Management Inc. now owns 145,999 shares of the e-commerce giant's stock valued at $32,031,000 after acquiring an additional 1,827 shares during the last quarter. Soltis Investment Advisors LLC grew its position in Amazon.com by 53.3% in the second quarter. Soltis Investment Advisors LLC now owns 201,454 shares of the e-commerce giant's stock worth $44,197,000 after acquiring an additional 70,075 shares in the last quarter. Mascagni Wealth Management Inc. increased its stake in Amazon.com by 3.1% during the second quarter. Mascagni Wealth Management Inc. now owns 8,526 shares of the e-commerce giant's stock worth $1,871,000 after acquiring an additional 257 shares during the last quarter. Finally, Spurstone Advisory Services LLC purchased a new stake in Amazon.com during the second quarter valued at approximately $139,000. Institutional investors own 72.20% of the company's stock.

Amazon.com Company Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.